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Theo Francis — financial & investigative journalist

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  • The Wall Street Journal (work)
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Past projects

  • Planet Money (freelance)
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  • Quartz (contributing)
  • UMd College of Journalism (teaching)
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  • BusinessWeek (work)

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U.S. Corporations Increasingly Adjust to Mind the GAAP

The use of figures that exclude certain items is becoming more prominent in corporate filings
The Wall Street Journal
Original publication date: 
Monday, December 14, 2015 - 20:28

A financial obfuscation of the dot-com era is making a comeback: Hundreds of U.S. companies are trumpeting adjusted net income, adjusted sales and “adjusted Ebitda.”

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When tech companies release earnings, people like Mark Zuckerberg and Bill Gates can make or lose billions in a day

$5 billion? That’s, like, a whole lot of hoodies.
Reuters/Rick Wilking
  • Read more about When tech companies release earnings, people like Mark Zuckerberg and Bill Gates can make or lose billions in a day

Apple Just Made $9 Billion (And Investors Are Mad)


by Theo Francis

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My latest posts, articles & citations.

U.S. Businesses Find Welcome Surprises in Tax Bill | The Wall Street Journal | Tuesday, December 19, 2017
20% vs. 22%: The Tension Over Two Points in the Corporate Tax Rate | The Wall Street Journal | Tuesday, December 12, 2017
Companies Push to Repeal AMT After Senate’s Last-Minute Move to Keep It Alive | The Wall Street Journal | Monday, December 4, 2017
For Multinationals, the Tax Bill’s Good Likely Outweighs the Bad | The Wall Street Journal | Friday, December 1, 2017
How Do America’s CEOs Feel About the Tax Plans? They’re Watching the Details | The Wall Street Journal | Tuesday, November 14, 2017
Businesses Push Workers to Mobilize Before Tax Revamp | The Wall Street Journal | Sunday, October 29, 2017
Lobbyists as Directors Test Rules for Corporate Boards | The Wall Street Journal | Tuesday, October 4, 2016
Companies Routinely Steer Analysts to Deliver Earnings Surprises | The Wall Street Journal | Thursday, August 4, 2016
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